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tv   Closing Bell  CNBC  July 26, 2012 3:00pm-4:00pm EDT

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all the way to the cloels. thanks for watching "street signs," "closing bell" is next. hie, everybody. we entered the final stretch, welcome to the "closing bell." promises of a bailout has stocks off to the races today. investors taking their cues after europe's central bank president promised to do whatever it takes to keep from collapsing. you have a recipe for a big rally and that's what we have right now. >> sure do. i think the high was about 215 or 217. as you see from the interday
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chart, the high happened at the opening of trade. the s&p picking up here and is 21 points higher. some say the pledge by mario draggy is not knew, these markets rallying though, some people say for the wrong reasons, scott, because we're expecting moreuantitative easing. you had to expectation it after the fed telegraphed what it was going to do. >> and really decisive markets. so in food's closing bell exchange we have bob pisani, and rod smith. rick, you have to love the rally, but i'm not sure you
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would like why we're rallying today. >> you know, many viewers watch cnbc or people listen to it so when they invest in the stock market they will make money, not losing money. so if the market goes up and the reason is dragh ierkdraghi we'l that. i would rather debate earnings, but when the notion is an italian central banker saying trust me on this, i'm sorry, but it doesn't work for me. granted the market moved, but in the end the trust me will not cure the insolvency. the real issue here is what's the trigger for investors to watch all of these securities go to zero. i don't know what that trigger is, but the insolvency lingers
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because they will figure out a way to make payments and it doesn't change anything. >> i think that's right, but you to remember the ltro program and what happened to the markets and the euro zone. it was -- >> yes, it was going to spain for 3.5% going into the market for 6.5%. these things don't make sense. >> the other problem with the ecb reactivating the smp, is that it raises the issue of subordination. they will not want to when they're subordinated now. >> if we see this continuation of so much -- and even china lowering rates. what do you want to do as an equity investor? >> the way i'm trying to
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understand it and frame it to others, is whether time is working for you or against you, time has worked for the u.s. we healed the corporate sector balance seats and a lot of the consumers balance sheets, and haven't done anything about the government. time is working against europe. that's why you had a lot of economists pleading to act quicker, and it shows you where traders are. people are short, so when you get people saying we'll use our balance sheet, even if it's only to buy time, that tells an investor if you're not facing a disaster, stocks are reasonably priced. i like to hear those comments. he is a close technician. he was watching 1330 like the rest of us and knows where to make his statements.
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>> and he put a floor under stocks. >> yes, look at the market internals, i'm not terribly delighted with what i've seen today, but on a day, if there's really good macro economic news, the industrials would be up strong and materials. it's utility stocks an consumer stocks. the market now believe most amount of central bank posturing is going to change the fundamental macro economic view. and industrials and materials are the two most shorted groups out there. if they believe the global economy is turning around, there would be a huge rally. we're not seeing that today. >> and they're right to be cautious. >> i don't know if anybody is expecting a global turn around here. the numbers are the numbers and we know that the economic data has been horrible. >> and this morning's data was
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not terrific either. it continued to show a slowing in companies willingness to put capital to work. >> yes, it's just sending you into equities because there's no alternatives, no yield. but to think this is creating economic vibrancy overnight is ridiculous. >> but don't you think equities is where an investor should be, checking a yield in businesses positioned for the inevitable inflation, and not in cash, where they're losing money to inflation every year. >> you would be row casing out of pressutreasuries? >> i was early on that, but we like investment all the way out to high yield winds that game. you're collecting 7%, and the central banks are saying there won't be a solvency issue.
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for me it's about time frame, but i think an investor that has a three to five year time frame is being paid to take the risk. 2013 is still the big story. i think the comments today, and from the other central banks, say you have to put that at less than 30%. >> and the complete lack of revenue growth, that doesn't bother you? i'm happy to buy stocks on a dividend yield, all else being equal, but no revenue growth at all. >> this is where nominal gdp is so important. if we have moderate revenue growth and stable margins, stocks can go up on that. stocks are priced where they are and it's a real fear of the 2013 global recession. >> that's where the numbers will start showing it with the fiscal cliff upon us. >> to your point about time
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horizon, that's critical. if you go through a huge correction, the dividend yield doesn't matter. >> thanks, everybody. see you soon if. >> wall street holding on to a 205 point rally out of the dow today, nasdaq strong as well. >> stay with us, we're all over this big rally, facebook's earnings after the bell and more for you. facebook has been roughed up since going public. can their first ipo report save the stock? and paul ryan vowed to repeal the dodd-frank reform. >> it will put smaller institutions out of business. >> coming up, barney frank reacts live from capitol hill. it's all ahead on the "closing
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bell".
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welcome back, we want to update you on the market. the dow jones is at the highs of the day, 214 points. banks firmly higher on the session, retail doing well and consumer products doing well in parts of this rally. knb, colgate, and it is up more than 4%. technology also doing well, 36 points up for the nasdaq. brian shactman has a update on groupon. >> yes, i want to look at groupon, we talk a lot about zynga and facebook, groupon hitting a new low today. they downgraded the stock raising new questions about the revenue reporting and the revenue model, not good. down 9.33%.
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>> facebook shares are now down more than 25% from it's ipo price. can the first earnings as a public company save the stock? we have been all over the facebook story from the beginning, and tayla tausche joins us now. >> they need to put up a big number to wipe away the concerns. it fell below the $38 price on the second day of trading. and it broke $30 shortly there after. sings blow that level under writers had been buying shares to put a floor to keep them from falling. that caused sources close to the deal to call it broken and unfixable. ann list expect facebook to earn four cents a share, but since
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they will take a quarterly charge, estimates could be near $5 billion. it's not expected they will blow past expectations in this quarter. most bears i spoke to have likely thrown in the towel here unless their shares are locked up which is the case for a lot of early investors. and bulls say give them another quarter. they have a lot of issues, get behind them and make good on some of their other offerings like search. this is not the best quarter for a clear earnings picture. google and amazon faced similar publicity hurdles after their ipos and microsoft took years to get to a billion users and facebook did that much quicker.
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time is the only healer that we know of, but we will get answers shortly. >> okay, kayla say with us, we want to expand the conversation. >> we have max wolf, and josh brown. kayla, based on the reporting you just did, i want to get right to the issue everybody wants to know. you asked the question what could get rid of the jitters for inve investo investors, is it mark zuckerberg himself? >> we have not, but it's sharon stanberg who is steering the ship. she has vision for the product, and ebersman is the financial engineer. people want to know since mark has control of the company, he is steers the ship, that he will be there if they want him to be
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least on the call. >> that's a great point. in terms of the advertising and mobility, max, are they going to be able to quiet down the mounting concerns about ad profitability on mobile prices? >> i think they need to, we're only beginning to see the rollout of a long-term strategy to monosize a rapidly growing user base. we need to see growth two to three times higher, and we need to see this company begin to monetize outside of the phone world. zuckerberg will be important to show that he is involved. this is a communications company that has not done a very good job at communicating. >> josh, do you agree? does it make sense to you that here is a company that wall street is valuing at $80
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billion, and in all of 2011, the company had net income of $20 billion. and we're valuing it at $80 billion, does it make sense to you? >> to answer your question, the way they're valuing this company has nothing to do with the fundamentals. they're waiting to see if the business momentum will justify it. look at the stock today, i think it's really telling, traders are noncommittal here. what they're basically deciding, even if they like the stock, they're saying i don't want the risk of a quarter that has all kinds of moving parts and the restricted stock issue. so what they're saying is look, i would rather pay up when the all clear is sounded. the number one thing i would be concerned with is the slow down
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in the u.s. which is their most profitable market. that's a little worrisome, and the issue is is the rate on mobile. let's get real metrics there. >> josh, you're a trader, right? you will make a decision whether or not to buy the stock, and not to get past the zuckerberg on the call issue, what if he's not on the call? aren't optics here? the optics are important? >> i get that argument. i believe that professional investors right now are really focused on what is the fundamental momentum of this business and can it situation the 80 billion. i don't think it is the primary thing here for professional investors. i think they really want to understand how this stuff ramps
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up and justifies what people are already paying for the stock. >> real quick, i just want to ask you, max, zynga obviously having a real tough day. disappointing earnings from zynga yesterday, what do they have to do with facebook? any similarities in terms of what we might hear from facebook based on what we heard from zynga? >> i think if we hear anything similar, you'll see a bad downward response from facebook. that being said it speaks to the risk of communication, and it reminds us of what's wrong if you don't build a good relationship with the street. if jukerberg is not there, we'll have to determine that the risk ri wort is that there is more risk than reward to putting him on. it is optics and obviously earnings are king. >> thanks, everybody. kala, josh, max, i know you will
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be back after the numbers are released tonight. we'll have the numbers for you and show you what the stock does in the extended hours. we want to hear from you, do you think mark zuckerberg should show up on the company's earnings call? i know you think it's important. >> i do and it's important if they gave guidance or not. that will be key. >> if it looks anything like zynga's they're in trouble. >> the market up 211 points. nasdaq up 36 points. >> facebook isn't the only big name on the calendar after the bell with earnings, amazon also set to report. which one is the better buy. we're talking numbers with facebook and amazon next. >> and starbucks founder says
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the american dream is in jeopardy. we'll also talk about business with starbucks with earnings after the close. don't miss that interview with harold schultz. including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites.
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seema? >> sales are being fuelled by strong demand for cloud computing services. similar for western digital. there was concern around the pricing of these driving, the impact of the thailand floods, but the company reassuring investors. seagate up in sympathy, and check out shares of lsi logic. the stock is also getting a pop in today's trade. >> thank you, seema, a big day for facebook and amazon, both companies set to rearea their earnings, and it was facebook's first earnings since going public. amazon higher and facebook falling slightly. chp is the better play to make money in this market if you're investing in internet related
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companies. we have richard ross, lou ker kerner. lou, do the zynga numbers present a warning for owners of facebook? >> it's a sign that zynga is becoming less important to facebook, and part of the problems is facebook started directing more traffic to games outside of zynga. >> so we'll see if there is similarly in terms of the advertising. what do you like more, facebook or amazon? >> it's a tale of two charts. the age of foolishness. let's start with the bad news, facebook. this well defined down trend from the ipo, the stock settled into a pretty nice trading
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range. 28 on the low end, 33 he will resistance on the high end. that now projects measured downside to $25. we're a selling of the stock ahead of the earnings, we don't like that $23 target. >> how much lower does facebook go in your view? >> 23 could be conservative in our view. it's not a good combination. >> you want to buy amazon? >> i want to be a big buyer, let's bring up the chart and i'll show you what i mean it's 15% in one day alone. that's the last time they reported earnings. we think history repeats itself. the stock setted into a nice trading range. we're looking for a upside break out. it will probably measured
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upside. you want to be a buyer of amazon and a seller of fab. >> this company is growing revenue, $15 billion a year. do you want to buy is on the mind mentals? >> i think fb is under appreciated. it's one of the greatest companies. >> so you're a buyer? >> i'm a big buyer long term. >> scotty, back to you. >> amazon's earnings will be results from the new acquisition. they felt cutting edge was important. kourtney reagan is in devin's massachusetts where the robots are hard at work. >> yes, this is an amazon comet tor that fills e commerce order. they work alongside their human colleagues hoping to fill those
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orders and they do to at three to five more efficiency than they would without them. so they use robotics and software. it's for retailers that include zara, and they are working for the competition. e-commerce saying that amazon is buying them for $775 million in march. it's the second largest acquisition today behind zappos.com and it expected to be reflected in today's second quarter results. >> they made it very clear it will be business as usual for the existing customers, and i'll tell you that despite our initial skepticism, they followed that to a t. >> they're increasing the order efficiency, but the efficiency of competitors as well.
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gap and staples both use it. the employees are happier too. they can be more efficient, they don't have to walk the ten to 12 miles they would typically have to because of the robots. >> we're in the final stretch of trading for the day, the market is holding on to gains. nasdaq higher by 38. >> dunkin' blown away. take that mayor bloomberg, but what are they doing to guard against the wave of donuts and super large latte drinks? >> starbucks also on deck, will it rep apply case the success of the rival, howard schultz with us exclusively. and not pulling any punches about the state of america.
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welcome back welcome 25 minutes to go in today's trading education. happy thursday, the dow beating a path toward 13,000 again. the chief pledged to save the euro zone from collapse. it happened right at 10:00 a.m. this morning. the dow on path for a great quarter. the biggest gain in three months on the heals of weakness. and shares of dunkin' brands are taking a hid today. they merely matched wall street expectations, the parent between the chain seeing a boost in sales and giving a modest bump in the full year guidance. >> but investors wanted a lot more. here to answer them in a first on cnbc interview is the ceo
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niguel travis. welcome, it's great to have you. >> great to be back on the show. >> what do you make of what's happening with the stock today, and what do you say to investors that wanted more? >> investors will do what they do, the market will do what they do, we feel very good about the quarter and the rest of the year. we took up our guidance, we took up our store growth the counts were above the range. we announced a share buy back that shows the confidence that we have in the future. so we feel really good about the quarter, and i'm sure the stock will bounce back given the great confidence we have in the future of this business. >> let's talk about some of the uncertainties out here. you look at a ups or a morgan
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stanley and so many others saying that economic untern sieve, even the fiscal cliff is a concern. tell me about the next six months to a year, are you seeing that kind of uncertainty? >> we read about it every day, maria, but our traffic was up in the second quarter as it was in the first quarter. we're very confident. we have the right kind of business for this economy. yes, there is no doubt that consumers are nervous, yes the economy is volatile, and i think in that kind of environment they're looking for a business that offers them value as we do every day and our franchisees do every week. >> are you have to raise prices to off set cost increases you're
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feeling. people talking about the increase in corn and wheat prices. >> certainly we're not affected too much by some of the them you mentioned. if i compare year on year, company prices are down. some over commodity prices are down. we have our franchise managed chain that does a fantastic job managed commodities. we feel good about commodities, and it would be a difference in people like us and burger chains, that have a different level than what i would say at this time. we feel good, and we as a business are protected even if we did have some concerns, because we're just about 100% franchise business. that's the great part of our business model. >> are you on tract to expand internationally? >> well, maria, being a european, i watched it with
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great interest, and i really feel that in europe you have to go one way or the other. does the euro disappear or not? i think mario draghi's statement was helpful. we're encouraged by that. now, as a business, we have less than 1% of our profits in europe, so we have no exposure at all. we see this as an opportunity. we were very pleased during the quarter of what we saw coming out of europe. so we will look at europe as an opportunity to expand for the future. >> my co-anchor walked on to the set with a dunkin' donuts coffee. >> cheers to you, sir, good to have you on the program, thank you. >> thank you very much. >> we have about 20 minutes to go before we close it up on the
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street, dow industrials close to the highs of the day. >> is it justified? does it have legs into next week? someone here is thinking the best move is to sell into the rally. >> facebook's first earnings report as a public company, will investors like the numbers? we'll have the instant news and what it all means. >> and we still don't know if mark zuckerberg will show up on the company's call. before we golf to break, the dividend. which company's stock with earnings out after the close has climbed the most this year. amgen, coinstar, or starbucks. the greatest empires. then, some said, we lost our edge. well today, there's a new new york state. one that's working to attract businesses and create jobs.
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today. highs of the day plus 223 with 20 minutes or so before we ring the bell. >> the stock of facebook, let's look at it, it is sdoun better than 28% since the debut back in may. if facebook does a face plant today, will that dill the momentum for the rally? here to join us is brian brgsel, brian, what do you think about this central bank easing around the world, putting that support under for a floor for the market. does it continue all summer or are you expecting a selloff. >> i ti it's a trend you could see throughout the summer. we have been fortunate to travel and talk to a lot of clients, and the one take away we would
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tell you is that clients are expressly defensive. they're hugging bench marks, and when we see bad news they don't go down, and good news squeezes into the markets. so we think this trend of rising prices could surprise a lot of people. let's get to brian shactman for a quick second. >> yeah, blu mobile was dragged down about 15%. the company preannounced q 2 results. it halted trading and resumed a minute ago, you see it popped sharply to the upside and now it's pulled back a little bit, but it was down 15% before it resumed. it is glu.
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>> what would you do here. friday, monday, suz we saw that three days in a row that the down is down triple digits. we have not seen that since last september. here we're at 12906 at the dow plus 230. where are we going from here? >> our year end view is that the s&p basically closes where we're at right now. who knows where the number is going to go in the next couple weeks. we think you need a defensive posture right now. we think there is a load of heightened risk. >> so what are you selling? >> sure, so we're preferring sectors like staples, and also the health care sector. we like pharma, and our top stock there is merck.
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it's yielding north of 4% and we think there is upside thearget? what will get through? where do you put money to get there? >> our favorite sick tors are energy and industrials. we upgraded technology in june. the best performing sector in that market in that time frame. we also like consumer staples. we think it's defensive now. you want to take the other tack if you can back it up, which we do. look very good longer term. and the earnings have been good. >> they have been okay. i'm looking at a report right here, court rate outlooks, the guidance that is driving things,
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and they have been slower. we're looks at third quarter earnings expectations now. we see negative performances -- >> here is my recant. ceos are no different than people watching right now. they know what happened in 2010, they will be defensive. we think that negative ti is well overplayed, it's priced into stocks, and we will have a recovery because the u.s. as an asset is still positioned the best in the world. >> if you get activity out of the ecb, if draghi backs up his statement, does that get you more hospital mystic on where it ends the year considering you think we're finished? >> i think it most definitely
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would. when quantitative easing comes into the market, they rally dramatically. you're getting diminishing returns. it's getting less and less from a time, duration, and amount standpoint. to brian's point, i agree that technology looks very good, but we're market weight on industrials, we look at the manufacturing index below 50. pmi's across the world below 50, so we want to be a little careful. we don't want to be too heavily positioned there. >> my problem with getting too hospital mystic, is just a year ago, earnings were expected to grow. now you look and they're
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expected to decline. estimates have been coming down consistently. people on the program say they're not down enough yet. we'll see see estimates coming down -- >> i'm sorry, numbers have come down the last two months pretty substantially. the amount of cash flow coming from net yk, over the last three quarters has increased dramatically. it's not just about cost cutting, it's about operations beginning to turn. that's something a lot of people are missing. >> ryan, i'm sorry, we have to run, we'll pick it up another time. we have ten minutes or so to go before the belle rings on wall street. a gain of 224 on the dow. >> so some say it would be insulting if mark zuckerberg did not show up on the first call. [ male announcer ] when this hotel added aflac
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its was the most highly anticipated ipo of the year, but so for facebook has been a night for for investors that got in on day one. >> it opened at 42 -- >> the stock declined 25%. investors are opening for an earnings surprise. just as intriguing is if mark zuckerberg will be on the earnings call. he did design the structure, so he has complete control of the company. >> he is not a hired ceo, he is the creator and founder of this company with a disastrous ipo, there are questions about the business going forward, he did not make a public statement about either. i want to hear from him. i think if i own stock i would want to hear from him too. >> there was the whole cavalier
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approach, a different unconventional way to visit investors and dot road show, and we had that whole debacle where they're lowering estimates. there's a lot of things here that he should come out and explain. >> look, strategist over here a few moments ago, said he better be on the call. >> i think the wall street community wants to hear from zuckerberg. >> why are we even speculating he won't be on the call? >> that's a good question, i don't know. i don't know why we think he might not, but we sure want him to be. that's a good point. the numbers could come out at any time after the bell and we'll have results. and do you think mark zuckerberg should show up on the earnings call. tweet us @cnbcclosingbell. speaking of, we're coming right
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back with the countdown. >> and next hour, the facebook and amazon earning wills come out. amazon is growing $15 billion a year for several years. and there is the man of the our, barney frank, we'll ask him how dodd-frank is doing, and howard schultz on why he thinks americans are going in the wrong direction. the freedom you can only get from hertz to keep the car you reserved or simply choose another. and it's free. ya know, for whoever you are that day. it's just another way you'll be traveling at the speed of hertz. to experience the ultimate expression of power -- control. ♪ during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. who have used androgel 1%, there's big news.
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welcome back to the floor of the new york stock exchange. it's time now for the closing count down. let's go through the charts now, what a big day on wall street today. let's look at the dow industrials. we sit 12900 or there abouts. that is the high of the day. ecb president mario draghi giving the markets oo booth. the euro you will see a big boost this morning. it's one of the reasons why we have carried through to such a big day on wall street today. now we look ahead to after the closing bell, and that's a highly anticipated earnings report from facebook.
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it's gown 9% going into earnings, but a difficult day as it is for social media stocks. we'll see if that continues. don't forget about amazon as well. the stock has done quite well. a nice run up up 1.5% or so. that stock sitting at $220. will that run in the stock, one of technology's best gainers continue after the gain today. howard schultz is coming up after the bell to discuss the results with her before he does with ann list and that's the game right there. let's come over and talk to our guests. matt is a trader on the floor, what do you want to hear after the bell. these are big earnings reports. >> it's part of the market so far this year as a great performer, we're seeing news on a near term basis that earnings are soft or so. it would be news to see a
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continuation of longer growth. >> matt, what did you put into draghi's comments today? >> i am sick and tired of rhetoric, i want some action. they're going to wait and use their bullets next week. >> right. one thing i'm looking at is no rally? gold or commodities. i'm looking for a bigger bounce with the euro. maybe they'll get in here and buy gold up. >> didn't they have speculation that the fed would come in sooner rather than later. >> you know what, we look for a bigger move in that if we were to get real support from the ecb. >> interesting, bob pisani on floor that watches the markets closely was disappointed today as well. no big pop in industrials. they believed things would be better. >>

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